I've been obsessed the past decade on trying to understand why some people become financially free, while the majority of the population is living paycheck to paycheck. I just launched a book called Baby Money Soldiers, which is a book on personal finance, that shares the story on how we all need to be "Generals" of our financial army. It's a great way to teach young adults about money and finance. I would love any feedback on what you think are the main forces holding people back from becoming financially free. I'm always trying to create content that will help people make more money, and start driving towards their soul purpose. Thanks for taking the time to read this and to share your thoughts. I believe People With Financial Intelligence Can Change The World For The Better".

Our educational system is designed to create material soldiers, not free people. American children and students are taught how to develop themselves to be desirable to an employer, how to pay into the system and work full time or double time to until they either drop dead or live long enough to "retire." Our financial and societal systems set us up (essentially for a form of financial slavery) long before I ever incarnated on earth. If I had understood all this early on, I would have set myself up to be financially free. Unfortunately I did not understand how our systems work until AFTER retirement age when it's too late to do anything about. If you start with that knowledge early you have time on your side to develop financial freedom, as in 30 plus years to plan, accumulate and earn. My immigrant family had none of this knowledge and the school system certainly wasn't going to explain it to me. They are set up to serve government and corporate structures to create obedient worker bees who die more or less just when they are eligible to get something back. This is a fact. Look up the history of the creation of Medicare and Social Security. I always worked for small businesses and never had the opportunity to participate in any form of a retirement fund. This has changed in recent years, AFTER it was too late for me to participate.

Hi @Gino Barbaro , Here are some of my thoughts on the questions you asked: 1) Where Do You Think People Fail When Not Achieving Financial Freedom? For some it is homelessness. I've seen some very big fish fail and some smaller players. Pledging your home and other assets to be able to increase your holdings, from what I've seen can lead to a very unpleasant situation. 2) ....why some people become financially free, while the majority of the population is living paycheck to paycheck I've never met anyone who is financially free, that was not a trust fund baby. I think financial freedom is a misnomer in this business, like chasing a cloud in the sky. The people I've known who have been successful in this business- successfully in their own terms of it, meaning owning a rental or two up to unbelievable wealth in real estate, all, all, all had a tight REIGN On their business (Notice I said business, and not investment- because to buy this business costs money, the money is invested in that you might be able to get that money back unless you lose the business to the bank or it is destroyed by your customers). Where I am going with this is someone may trade a W2 wage slave job for a job of owning rental units to house people and their pets. Not lazing around in a deck chair all day and having checks just flow into your mailbox like they might with Dividends from owning a stock certificate. 3) I would love any feedback on what you think are the main forces holding people back from becoming financially free. 21% Of the population Is on government assistance- many in here like that and wish there were more because they benefit from the section 8 rental assistance program that these people use to be able to keep a roof over their heads. Many of those on it seem happy to remain on it cradle to grave generation after generation. 1% (approximately) are in prison or in the court system on their way to prison. the gray bar motel. 42% Are suffering from going through the divorce court system. Everyone is NOT treated fairly by the divorce courts. That has long term effects on many peoples financial situation. A big setback. Many W2 jobs in the USA do not pay enough to support a family with one person working, or even with two persons working. Meaning the opportunity for good paying jobs in many areas is a very very slim. People in these areas do not have as much investable income, if any, compared to those who work in more affluent W2 positions. There are a lot of jobs in the USA, but there are not a lot of really good paying jobs to go around for everyone. Many people just get by paycheck to paycheck. These tend to be our renters Who do not get government assistance. Some of them will make it to a higher income bracket, probably most will not in any material manner. 15 cent an hour raises don't really make for much investment income. It takes money to make money. Most people lack the money for a down payment, and their personality tells them if they do have some extra money spend it on a good time, beer, a vacation, new skis, a gift for junior, etc... I appreciate your goal of trying to change the world for the better, that is also my goal on a daily basis. I think rather than trying to fit a square peg into a round hole, and there are mostly square pegs, a better vector to set your jib to, might be trying to assist those who are round pegs in our industry rather than trying to get the square pegs to whittle themselves down. I say this because the square peg thing to me might be like trying to find a needle in a haystack as far as scoring a touchdown with them. Although as far as selling books goes, maybe more books would be sold with the square peg system and you would help out people who would normally not get helped out. I wish Luck in your book sales, and may it make you even more wealthy than you are now. Good Luck! https://www.youtube.com/watch?v=5-Ur71ZnNVk

Where Do You Think People Fail When Not Achieving Financial Freedom?

Jacopo Iasiello

Investor · Miami Beach, FL · Member since 2017 · 362 posts · 109 votes

2y

Interesting topic, I think because they are afraid to take risks and not ready to lose something. Congrats on Launching your Book.

4 Reply

Gino BarbaroPro Member

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Rental Property Investor · St Augustine, FL · Member since 2014 · 2k+ posts · 1k+ votes

2y

@Jacopo Iasiello

Love that. I think that people do not understand their relationship with money. I struggled early on, and was afraid to take risk. My parents conditioned me to be a great saver, but saving will not lead to financial independence in most cases.

Once I understood my relationship, and used the savings to invest in an asset to pay for an event, everything changed. Was it hard? YES. My money was leaving the comfort of my bank account. But once I got my first cash flow check, followed by a refi, I was hooked.

thanks for sharing

Gino

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Erica Calella

Investor · Member since 2024 · 77 posts · 105 votes

2y

In my opinion, the problem is not "cash inflow", but rather "cash outflow". I think many of us use hyper-consumerism as a means of validating our self-worth.

We NEED to upgrade to a new cell phone every year, we NEED to take expensive vacations to show our friends how fun our lives are, we NEED to purchase the more expensive car, we NEED to eat at chic restaurants and document the experience all over our social media. If we don't, what will other people think of us? What will we think of ourselves??

It's hard not to fall into this trap when digital marketing and social media advertising is constantly shoving all of these unnecessary products and services down our throats. I read the Millionaire Next Door for the first time recently and it honestly opened my eyes to a lot of these constraints and how societal pressures keep us trapped within this vicious cycle. Breaking free from it all was one of the best things I've personally ever done financially. I realized I much preferred to eat dinner at home, where I would be satisfied and not still hungry afterwards.

With that said, I'd love to purchase your book! @Gino Barbaro

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Gino BarbaroPro Member

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Rental Property Investor · St Augustine, FL · Member since 2014 · 2k+ posts · 1k+ votes

2y

@Erica Calella

DM me, and I'll send you an ebook for free.

And I also agree with you. People kill their baby money soldiers too soon, and they kill them by spending them on luxuries, like you describe.

To me, it comes down to mindsets, the poor, the middle class and the wealthy mindset. It seems like you've adopted the wealthy mindset by breaking free.

It's not how many Baby Money Soldiers you make, it's how you use them, and how they grow!

Gino

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Chris SeveneyBusiness Member

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Investor · VA · Member since 2015 · 21k+ posts · 19k+ votes

2y

@Gino Barbaro

People fail because many chase the “get rich quick” scheme

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Jay HinrichsBusiness Member

Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes

2y

circumstances.. education.. personality .. innate abilities.. lack of understanding basic math..

desire .. drive.. familial pressures..

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Gino BarbaroPro Member

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Rental Property Investor · St Augustine, FL · Member since 2014 · 2k+ posts · 1k+ votes

2y

@Jay Hinrichs

I ask for one and you overdeliver!

What did you possess that allowed you to succeed?

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Gino BarbaroPro Member

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Rental Property Investor · St Augustine, FL · Member since 2014 · 2k+ posts · 1k+ votes

2y

@Chris Seveney

We like to call it the get there itis. People can't dedicate time to building wealth. They jump from one venture to the next

Thanks for sharing

Another great reason!

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Mike Dymski

Investor · Greenville, SC · Member since 2016 · 5k+ posts · 13k+ votes

2y

As Tony Robbins says, people move away from pain and towards pleasure.

6 Reply

Mark F.

Rental Property Investor · Northern NJ · Member since 2019 · 673 posts · 677 votes

2y

Used to listen to your podcast a ton and loved it Gino.

I'm not financial free just yet but well on the path. The difference between my views and my lifelong friends is two things: knowledge and action. I sought out knowledge then took action. While I took baby steps, it was still better than nothing. My friends now are on different wavelengths when we travel due to my financial trajectory being much different. I didn't predict the latest **** coin or invent some crazy business; I just house hacked a few properties and increased my income slightly by leaving the military for a better paying government job. I made a few sacrifices, they won't.

I think people are either just lazy or scared of failure to take any action which ultimately leads them to live a non financially free life.

1 Reply

Jay HinrichsBusiness Member

Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes

2y

Quote from @Gino Barbaro:

@Jay Hinrichs

I ask for one and you overdeliver!

What did you possess that allowed you to succeed?

A loving Father and Mother who taught and encouraged me.

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Gino BarbaroPro Member

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Rental Property Investor · St Augustine, FL · Member since 2014 · 2k+ posts · 1k+ votes

2y

@Mike Dymski

Simple, yet profound

How ya been Brosef!! I've added a few hundred units since we last spoke

I still get your daily quotes. Love them!

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Gino BarbaroPro Member

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Rental Property Investor · St Augustine, FL · Member since 2014 · 2k+ posts · 1k+ votes

2y

@Jay Hinrichs

Family is the cornerstone of a healthy and functioning civilization

If you want to change the world, go home and love your family

Gino

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Gino BarbaroPro Member

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Rental Property Investor · St Augustine, FL · Member since 2014 · 2k+ posts · 1k+ votes

2y

@Mark F.

Hope you jump back on board. I have a how to and a podcast with my wife

The Julia and Gino show, by far one of the best parts of my week.

Congrats on being on the path! You're not yet, but you will!!

Gino

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Carlos M.

Investor · Lancaster, PA · Member since 2016 · 94 posts · 356 votes

2y

@Gino Barbaro

This one’s easy. Discipline!

The reason you’re are not where you want to be in health , wealth or relationships is discipline. Everyone knows what it takes to have 6 pack abs but not many people are disciplined enough in diet and exercise to have them.

The same goes for creating wealth and or financial freedom. It’s pretty basic. Live below your means increase your disposable income as much as possible and invest it while delaying gratification for as long as possible. If you do this for 10 years and reinvest ALL your profits it’s pretty hard not to be financially free.

5 Reply

Gino BarbaroPro Member

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Rental Property Investor · St Augustine, FL · Member since 2014 · 2k+ posts · 1k+ votes

2y

@Carlos M.
I need to add that there are specific rules to the game of money. Discipline alone won't get you there.

Having a long term mindset and responsibility are key

Thanks Carlos!

Gino

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Ty Nosser

Property Manager · Member since 2024 · 3 posts · 2 votes

2y

From what I have seen with the youth I educate is that they try to live like they are financially free without first making sure they are. Budgeting is a new and painful experience for them. The income is there but the mindset is not.

I think personally I have to juggle buying another property with loving my family well and making sure that the financial freedom I seek is worth the extra sacrifice now. Doesn't mean I won't but I need to make sure my family and I are on the same page before I start the grind to get out of the grind each day.

2 Reply

JD MartinBusiness Member

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Rock Star Extraordinaire · Northeast, TN · Member since 2015 · 10k+ posts · 16k+ votes

2y

The greatest indicator of ability to become successful at anything is the willingness and ability to suffer through the journey. Google "Stanford Marshmallow Experiment" for an example. If you cannot delay gratification, you are unlikely to be successful in anything because most things in life that are deeply satisfying - getting fit, getting an advanced education, moving deeply through a career, achieving financial success, etc - takes a lot of time and effort and requires sacrificing many short-term niceties and pleasures for long-term achievement.

The vast majority of the population, anywhere in the world, prefers the instant dopamine hit to the slow morphine drip. The secret is learning how to be not only satisfied but pleasured by the journey and the effort. For some people this comes naturally but everyone can learn it.

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Dan H.Pro Member

Investor · Poway, CA · Member since 2015 · 7k+ posts · 8k+ votes

2y

For me having an entrepreneur mom was a big advantage. It does not matter that she likely never had household income above $40k.

Next is understanding risk/reward analysis. Failing at high risk and high potential reward is fine and part of the game. I have made at least 7 digits of wealth via 3 different paths (one being RE that has done far better than 7 digits). Calculated risks. Those who do not understand this or are afraid of risk have a more challenging path (but can still succeed with enough effort).

Good luck

1 Reply

Lester Williams

Member since 2020 · 1 post · 3 votes

2y

Consistency Consistency Consistency! People tend to not stick with the process long enough to see the outcome they're looking for, financial freedom. It is OK to lose here and there if the market, the numbers, the investments are slowly but surely going UP. I call it, time under tension. Congrats on your book Gino!

3 Reply

Mike Dymski

Investor · Greenville, SC · Member since 2016 · 5k+ posts · 13k+ votes

2y

Quote from @Gino Barbaro:

@Mike Dymski

Simple, yet profound

How ya been Brosef!! I've added a few hundred units since we last spoke

I still get your daily quotes. Love them!

Congrats on the continued success! I may build a stayAPT hotel in Phoenix (hybrid hotel/apartment).

If anyone on the forums would like to be included in a daily "quote of the day" email, feel free to send me your email address. No spam...I don't run a real estate business; so, this is just a daily email with a quote.

2 Reply

Ray Hage

Investor · Fort Lauderdale, FL · Member since 2020 · 1k+ posts · 755 votes

2y

@Gino Barbaro Congrats on getting your new book to the masses! I would say the three biggest reasons why people don't achieve financial freedom are:

1 fear of investing/losing money and will put it in something like a CD and be happy with 2-3%

2 spending too much money on non-essentials like eating out, nice cars and primary housing. They are not willing to make the short term sacrifices or work a 2nd job/more hours to use the money to invest.

3 procrastinating. They have a busy life and are preoccupied so they put off investing because they think they have plenty of time to start investing later.

These 3 things are what I have observed in my personal circle and at networking events.

2 Reply

Gino BarbaroPro Member

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Rental Property Investor · St Augustine, FL · Member since 2014 · 2k+ posts · 1k+ votes

2y

@JD Martin

It's our job as parents to teach our kids delayed gratification. Working for opportunity that will create money has been a huge shift for me.

Thanks for sharing. I think you're answer is one of the hardest yet important things people need to do to become not only financially independent but happier in life

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Gino BarbaroPro Member

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Rental Property Investor · St Augustine, FL · Member since 2014 · 2k+ posts · 1k+ votes

2y

@Ray Hage

Procrastination is a great one. The question is why do people procrastinate. And why do they settle for such low returns, and are willing to kill their Baby Money Soldiers on luxuries, instead of saving them and deploying them into more lucrative investments.

It's our duty to share with others what we see, and hopefully we can reach more people willing to learn how to take control of their financial future.

Gino

thanks!

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Gino BarbaroPro Member

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Rental Property Investor · St Augustine, FL · Member since 2014 · 2k+ posts · 1k+ votes

2y

@Lester Williams

The word consistency sounds HARD, and it is. People have to take a deep dive into their personal lives why they are not being consistent in their lives. It all goes back to personal development and finding out what is truly holding you back. Once you do, consistency will follow. At least, it did for me.

Thanks Lester. DM me and I'll send you an ebook

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Where Do You Think People Fail When Not Achieving Financial Freedom?

Where Do You Think People Fail When Not Achieving Financial Freedom?

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